American asset-management firm Bernstein believes that Bitcoin could hit $300,000 by 2029. Based on the data shared today, the $829 billion asset manager made a bold prediction that BTC has no alternative but to skyrocket to $150,000 by mid-next year.
Bitcoin’s recent rebound attracted interest from several traders, market analysts, and asset managers. As a result, multiple investment firms are weighing in on the asset’s potential movements and price targets. This prompted Bernstein to project that the cryptocurrency is laying the groundwork to reach $150,000 by mid-2027, and even to climb to $300,000-$500,000 by the end of 2029.
Key Factors to Drive Bitcoin Towards $300,000
Analyst Gautam Chhugani, also managing director at Bernstein, believes Bitcoin is preparing for new price discoveries, fueled by numerous catalysts. The company’s analytical models show the asset is on the verge of breaking to a new ATH of $150,000 by mid-2027 before targeting new peaks of $300,000-$500,000 by the end of the fourth quarter of 2029.
The analyst named debasement trade, rising global demand, and a favorable regulatory environment as key factors that could propel BTC to climb new highs. He believes the asset could eventually hit these levels because debasement trade is benefiting it and helping it surge to higher grounds. An increased money supply, driven by the so-called debasement trade (as pointed out by recent US government bond market buybacks), is benefiting Bitcoin and gold. According to the analyst, uncontrolled government debt growth is weakening confidence in fiat currencies and, as a result, driving investors toward alternative stores of value like gold and Bitcoin.
Berstein also mentioned an improving regulatory environment as another catalyst helping promote crypto market development. The analyst believes the upcoming CLARITY Act will make it easier for both institutional clients and retail customers to buy, hold, and trade Bitcoin, bringing greater enthusiasm to the crypto market.
 
Another critical factor is the continuous halving events, which keep reducing the number of BTC tokens in circulation, and thus drive up prices and increase demand. According to the Berstein analyst, the interplay of these factors (a positive regulatory environment, rising institutional adoption, increased global acceptance, and continued halvings) will eventually push the asset’s value upward.
BTC in Consolidation Phase and What Next?
Bitcoin currently consolidates around $78,000 and $79,000 following the recent strong rally that enabled it to recover from July’s low of $57,800 to August’s peak of $81,000. The asset is currently digesting a confluence of geoeconomic shifts and strong August gains as the broader crypto market approaches the mid-September FOMC meetings.
The asset’s move to hold above the critical support at $76,000-$77,000 shows its bullish structure remains intact. As illustrated above, the asset’s price stability is driven by the dynamic influence of its programmatic scarcity, sustained institutional adoption, and other factors that Bernstein mentioned above.
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